With warmer weather approaching, the search for beach and waterfront homes has gathered pace. Those with flexible resources will have plenty to choose from, but what about buyers on a tighter budget?
Here are four examples of Canadian beach and waterfront homes listed for less than $500,000:
Nanaimo, B.C.
6071 Pleasant Valley Way, Nanaimo, B.C.Royal LePage Nanaimo Realty
Nanaimo’s average home price rose by 38 per cent, reaching $887,700 in March according to Jamie Wicks, of Sims Real Estate Group. Even so, there are still options for less than $500,000, though they sell quickly.
“Most properties are tending to sell within a week,” Mr. Wicks said. Vancouver Island is a prime destination for Canadians to move to as the weather is ideal year-round, he said.
The two-storey house in Nanaimo, B.C., was listed for $490,000.Royal LePage Nanaimo Realty
Recently listed 6071 Pleasant Valley Way was built in 1994 but has been given a slew of updates including new solarium windows. Listed for $490,000, the two-storey house has received several bids and Mr. Wicks said the owners are reviewing all the offers and predicts a deal is close.
“These are typically quite popular style properties,” he said.
Grand Manan Island, N.B.
309 Route 776, Grand Manan Island, N.B.Fundy Bay Real Estate
With one of the best east-facing oceanfront views on Grand Manan, an island south of Saint John in the Bay of Fundy, the home at 309 Route 776 provides direct access to the water, something not possible in many other areas of the island.
“You just can’t beat the location,” said Dan Webster, sales representative with Fundy Bay Real Estate. The house has been on the market for half a year at a list price of $249,900, but Mr. Webster said there’s no rush to sell because, with prices on a steady rise, the property will look a better and better deal.
“The new listings that are going up are a lot more expensive than they used to be, making this property look like better value.”
Built in the early 1980s, Mr. Webster said this 980-square-foot house used to be a summer cottage and is suitable for those that want to transform it to be liveable all year round.
“It does need some updating, it does need some finishing,” Mr. Webster said. “[But] it’s a liveable dwelling, and you can put money into it over time.”
Orillia, Ont.
3433 Beachview Ave., Orillia, Ont.Peggy Hill Group Realty
The home at 3433 Beachview Ave. in Cumberland Beach includes a $25 yearly membership to a private beach on Lake Couchiching a short walk away. There is also a public boat launch nearby.
“[For anyone] looking for that kind of beachy feel without having to pay for waterfront prices, it’s a great opportunity,” said Stacey Jensen of Peggy Hill Group Realty Brokerage. The house, listed at $448,000, is also within easy reach of other amenities: “It’s only maybe an eight-minute drive out of Orillia, and it really has become really popular in the last couple of years.”
The house, listed at $448,000, is also within easy reach of other amenities.Peggy Hill Group Realty
In March, the average selling price for a detached home in the city of Orillia hit $923,000 (up 31 per cent over a year).
“Anything in Simcoe County, especially anything that’s close to the water, is going to be pretty decently competitive,” Ms. Jensen said.
Lawrencetown, N.S.
188 Gammon Lake Drive, Lawrencetown, N.S.Red Door Realty
The average selling price of homes in Nova Scotia hit $599,653 in March. The home at 188 Gammon Lake Drive, listed with an asking price of $399,900, is a bit of an outlier because it has only one bedroom.
But Mark Mullane, realtor with Red Door Realty, says the home has plenty of potential.
“It’s kind of a unique property,” he said.
Sitting on a 2½-acre lot, “it does offer a lot more flexibility than other properties. It’s got a unique design that can be configured to anyone’s style, kind of like a blank canvas.”
The house is a short eight-kilometre drive to beaches, surf spots and scenic walks.Red Door Realty
Built in 2010, the one-bedroom, one-bathroom home has 1,313 square feet of living space. But it’s also just a short eight-kilometre drive to the beaches, surf spots and scenic walks at Lawrencetown Beach Provincial Park. Mr. Mullane said the property could appeal to older retirees or young surfers from out of province interested in an affordable home.
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